Which of the following acts was replaced with the introduction of the Competition Act 2002?

FERA
MRTP
POTA
None of these

The correct answer is: B. MRTP

The Monopolies and Restrictive Trade Practices Act (MRTP Act) was an Indian law that was enacted in 1969. The Act was aimed at preventing monopolies and restrictive trade practices, and promoting competition in the economy. The MRTP Act was replaced by the Competition Act 2002.

The Foreign Exchange Regulation Act (FERA) was an Indian law that was enacted in 1973. The Act was aimed at regulating foreign exchange transactions in India. FERA was repealed in 2000 and replaced by the Foreign Exchange Management Act (FEMA).

The Prevention of Terrorism Act (POTA) was an Indian law that was enacted in 2002. The Act was aimed at preventing and combating terrorism. POTA was repealed in 2004.

The Competition Act 2002 is an Indian law that was enacted to promote and protect competition in the markets. The Act prohibits anti-competitive agreements, abuse of dominant position, and unfair trade practices. The Competition Commission of India (CCI) is the statutory body that enforces the Competition Act.

Exit mobile version